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Malaque's Group
In this Group: Loty, Nida, Analie, Relita
Loty M. is from the village of Tabo-o, Jimenez, Misamis Occidental. She is 73 years old and the leader of a four-member group loan offered by PMPC. While each member of the group receives an individual loan, they are all collectively responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Loty is married and has 11 adult children. She has had a "sari-sari" — general store — for over five years, and earns approximately 5000 PHP a month.

In 2004, Loty joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. She has successfully repaid her previous loan from PMPC and is now requesting a new loan of 5000 PHP which will be used to purchase additional goods to sell. This loan will be the tenth loan taken out by Loty from PMPC. She plans to use the additional revenue generated from the business to supplement the family's income.

About PMPC:
Paglaum Multi-Purpose Cooperative (PMPC is one of the most progressive cooperatives in northwestern Mindanao. It reaches out to the rural poor using the Grameen model.

*Note: To maximize efficiency and reduce costs, this loan was posted using a template to automate the translation by Kiva. Given that manual translation of entrepreneur profiles is costly, Kiva created this template for our Field Partner to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

Additional Information

About Paglaum Multi-Purpose Cooperative

Paglaum Multi-Purpose Cooperative (PMPC) was founded in 1992 by the beneficiaries, parents and staff of the Paglaum Community Development Foundation to address economic and livelihood activities for sustainability. The organization operates in the northwestern provinces of Mindanao and Visayas.

In the local vernacular, “paglaum” means “hope.” The initial foundation is dedicated to child development through a holistic approach. The goal is to build self-reliance and expand opportunity so the poorest of the poor can help themselves.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Philippines

  • $7,000
    Average annual income
  • 1068
    View loans »
    Philippines Loans Fundraising
  • $57,661,375
    Funds lent in using Kiva
  • 45.6
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Malaque's Group's $900 loan helped a member to purchase additional goods to sell.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 23, 2010
Listed
Mar 19, 2010
Currency Exchange Loss:
Possible
Ended:
Nov 15, 2010